Paramount, home to one of Hollywood’s most storied movie studios as well as CBS and cable networks like Nickelodeon, has been discussing entering into exclusive talks with the media company Skydance for a potential deal, according to four people with knowledge of the discussions.
Apollo Global Management, an investment firm with more than $500 billion under management, has submitted an $11 billion offer to acquire the Paramount movie studio.
Byron Allen, whose Entertainment Studios owns the Weather Channel, has also expressed interest in acquiring Paramount.
Ms. Redstone, the controlling shareholder of Paramount, began negotiating with Skydance to sell her stake in the company last year.
She controls Paramount through National Amusements, a holding company that owns her voting stock in Paramount.
Persons:
Shari Redstone, Byron Allen
Organizations:
Paramount, CBS, Nickelodeon, Apollo Global Management, Entertainment Studios, Weather, Skydance, National